EFG International AG acquired a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS – Free Report) in the second quarter, HoldingsChannel.com reports. The firm acquired 26,241 shares of the software maker’s stock, valued at approximately $9,847,000.
Several other large investors have also recently added to or reduced their stakes in CDNS. Norges Bank acquired a new position in shares of Cadence Design Systems in the 4th quarter valued at $1,352,922,000. J. Stern & Co. LLP raised its position in shares of Cadence Design Systems by 10,159.3% in the 4th quarter. J. Stern & Co. LLP now owns 2,953,256 shares of the software maker’s stock worth $923,129,000 after buying an additional 2,924,470 shares during the period. Legal & General Group Plc purchased a new position in shares of Cadence Design Systems in the 2nd quarter worth $702,615,000. Wellington Management Group LLP boosted its holdings in Cadence Design Systems by 218.6% in the fourth quarter. Wellington Management Group LLP now owns 2,553,225 shares of the software maker’s stock valued at $798,087,000 after acquiring an additional 1,751,927 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in Cadence Design Systems in the second quarter valued at $607,350,000. 84.85% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In other Cadence Design Systems news, VP Paul Cunningham sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $323.32, for a total value of $646,640.00. Following the completion of the transaction, the vice president owned 124,586 shares in the company, valued at $40,281,145.52. This represents a 1.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ita M. Brennan sold 180 shares of the stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $387.45, for a total transaction of $69,741.00. Following the completion of the sale, the director directly owned 8,004 shares of the company’s stock, valued at $3,101,149.80. This trade represents a 2.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 89,599 shares of company stock worth $35,710,627 in the last ninety days. 0.49% of the stock is currently owned by company insiders.
Cadence Design Systems Trading Up 5.1%
Cadence Design Systems (NASDAQ:CDNS – Get Free Report) last issued its earnings results on Monday, July 27th. The software maker reported $2.11 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.06. Cadence Design Systems had a return on equity of 27.98% and a net margin of 23.60%.The company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter in the prior year, the business earned $1.65 earnings per share. The company’s revenue was up 24.2% compared to the same quarter last year. Cadence Design Systems has set its FY 2026 guidance at 8.050-8.150 EPS and its Q3 2026 guidance at 2.010-2.070 EPS. Research analysts predict that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several equities research analysts have commented on the company. Piper Sandler upped their price target on Cadence Design Systems from $325.00 to $349.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 28th. KeyCorp reaffirmed an “overweight” rating on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Wells Fargo & Company boosted their target price on Cadence Design Systems from $400.00 to $425.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Stifel Nicolaus raised their price target on shares of Cadence Design Systems from $395.00 to $432.00 and gave the company a “buy” rating in a report on Tuesday, June 9th. Finally, Berenberg Bank set a $440.00 price target on shares of Cadence Design Systems in a research report on Wednesday, May 27th. Thirteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $405.69.
Get Our Latest Stock Analysis on Cadence Design Systems
About Cadence Design Systems
Cadence Design Systems, Inc (NASDAQ: CDNS) is a global provider of electronic design automation (EDA) software, hardware and intellectual property used to design and verify advanced semiconductor chips, systems-on-chip (SoCs), printed circuit boards (PCBs) and packaging. Headquartered in San Jose, California and founded in 1988, Cadence serves semiconductor companies, original equipment manufacturers and system designers across the globe, helping customers accelerate design cycles and manage the complexity of modern integrated systems.
The company’s offerings span software tools for digital, custom/analog and mixed-signal design, verification and signoff, as well as solutions for system-level modeling, thermal and signal integrity analysis, and PCB and package design.
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